Whether you are a multi-location facility or a small healthcare provider, the chances that you are currently facing at least one of the problems outlined below is huge. This is not a mere assertion or an imagined claim, it’s a fact based on the outcome of our long-term research in hospital management and HMO administration.
Of course the problems facing medical providers are too numerous to mention, however, we are more concerned with the critical ones. By critical we mean, those problems that have significant effect on your bottom-line (ROI).
Undeniably, these problems are familiar and recurring. They are controllable, fixable and preventable:
1. Revenue leakages
Hospitals on the average, lose about 35% of their monthly revenue to HMOs, running costs and overhead expenses. Claims underpayment is a common practice of most HMOs despite the ridiculous tariffs and rapidly increasing prices of drugs and other medical equipment.
2. High employee turnovers
Another problem most healthcare providers face in this country is high employee turnovers. Losing your employees for whatsoever reasons will affect your customers perceptions and trust, your productivity and profitability. In addition, high employee turnovers will likely result in devitalized workforce and dissipation of knowledge.
3. Decreasing Customer Loyalty
Decreasing customer loyalty is indeed one of the problems healthcare providers face in Nigeria, especially now that our economy is experiencing some hiccups. If you keep losing patients loyalty, sooner or later you’ll go out of business.
4. Increasing Debts
Whether debts to HMOs or other companies, it can hamper your business if not controlled and recovered. Unfortunately, some of your debts are now bad debts. In summary, debts are not good for your business.
5. Poor Knowledge Resources Management
In case you don’t know, knowledge dissipation is one of the most critical problems most hospitals face in Nigeria. Please don’t confuse knowledge dissipation for transparency, they’re quite different. The former makes you vulnerable to competition dominance.
6. Inadequate Healthcare Process Management
Poor process management does not only affect productivity, it cuts into your profitability and customer satisfaction. Most healthcare executives are too busy with their medical practice that they don’y pay attention to how poor process management is hampering their business. Unfortunately, their management crew are mostly concerned with less significant factors that they rarely take note this.
In conclusion, if your hospital is facing any of the above problems, you can contact us for customized solutions and templates to improve your efficiency and profitability.